Agnico-Eagle Exercises Right to Buy Rest of Grayd Shares

Agnico-Eagle Mines Limited (NYSE: AEM) and Grayd Resource Corporation announced today that Agnico-Eagle has exercised its right under the compulsory acquisition provisions in Section 300 of the Business Corporations Act to acquire all of the outstanding common shares of Grayd that it did not acquire under its recently completed offer to acquire all of the issued and outstanding Shares, by mailing a notice of compulsory acquisition to all remaining holders of Shares. The compulsory acquisition is expected to be completed on January 23, 2012.